Varun Beverages stock split: Varun Beverages announces 2:5 stock split, interim dividend of Rs 1.25 per share

Stock split

“Sub-division/ split of the existing Equity Shares of the Company, such that each Equity Share having face value of Rs 5/- (Rupees Five only) each fully paid-up, be sub-divided/split into such number of equity shares having face value of Rs 2/- (Rupees Two only) each fully paid-up, subject to the approval of equity shareholders of the company through Postal Ballot,” said company in a filing to the stock exchanges.

The record date for the stock split will be announced by the company at a later date.

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Dividend
Additionally, the company announced that it will be paying the interim dividend of Rs 1.25 per share to its eligible shareholders for the financial year 2024 and the record date for the purpose has been fixed as August 9 while the payment of the dividend will take place on and from August 13, according to the filing.

Q2CY24 results
For the second quarter ended June 2024, the company has reported a profit after tax (PAT) of Rs 1,261.83 crore, rising 26% year-on-year (YoY) while its revenue grew 28% YoY to Rs 7196.86 crore from Rs 5611.4 crore for the corresponding quarter of the previous year.

Shares of Varun Beverages were trading 5% lower at Rs 1598.60 on BSE around 12:15 pm today.

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